Information about senior citizen savings scheme
How can a 5-year Senior Citizens Savings Account be opened?
It is really easy to open an account using ...
Blogs
Benefits of 12a registration
Section 12a registration has the following advantages:-
(1) The application of the rev...
Premature withdrawals and Maturity period
What is the tax treatment for premature withdrawals?
Premature withdrawals result in the addition of th...
Post Office Senior Citizen Saving Scheme Rules
The SCSS's governing principles are as follows:-
For the SCSS account to be opened, the depositor m...
Tax exemptions
What is Tax Exemption?
A tax exemption is a privilege to have some or all of your income free from your...
Shifting and incidence of tax
A tax's impact is felt by the individual or people whose real net income is affected. It is vital to understand that the individual who is legally obligated to pay the tax is not always bearing the brunt of the taxing....
Information about tax shifting and incidence
In a market economy, the introduction of any tax results in a wide range of modifications to trading patterns, supply of productive elements, consumption, and output. These changes will in turn have an influence on the costs of various...
The direction and extent of tax shifting
One key concept essentially governs the direction and extent of tax shifting:-
The extent to which the ...
Eligibility for senior citizens savings scheme
All Indian residents are eligible to participate in the Senior Citizens Savings Scheme. Investors must nevertheless fulfil extra requirements. 12a registration is beneficial for non government organizations r...
Tenure and premature withdrawal of fund
There is tenure of five years of Post Office Senior Citizen Savings Scheme. There is tenure of five years. One may, however, add three more years to their investment in the plan. Additionally, the interest rate for the longer tenure wo...